September, 2009

Defining the Stance of Monetary Policy Is Harder than It Looks

by Scott Sumner
The Conversation
September 29th, 2009

Jeffrey Hummel has listed four points in a response to our recent discussion, and then one more in a separate post. I agree with much of what he has to say, but there are enough points of disagreement that it’s worth going through these one at a time: I agree that the financial crisis was [...]

Read: Defining the Stance of Monetary Policy Is Harder than It Looks

Let’s Make a Deal

by George A. Selgin
The Conversation
September 29th, 2009

Okay, Scott; I won’t insist on two percent NGDP growth; why don’t we just split the remaining difference, making it 2.5, and call it a day. I’m also very happy to accept your suggestion that, for safety’s sake, a move toward free banking ought to be coupled with an arrangement in which the reserve base [...]

Read: Let’s Make a Deal